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Online Gambling Market to Grow by USD 181.47 Billion (2024-2028), Fueled by Digital Tech Adoption, with AI Driving Market Transformation – Technavio

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NEW YORK, Nov. 19, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global online gambling market  size is estimated to grow by USD 181.47 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 11.96%  during the forecast period. Growing adoption of digital technologies is driving market growth, with a trend towards emergence of innovative features such as live betting, VR, and AR experiences. However, growing online data security issues  poses a challenge.Key market players include 1XBet, 888 Holdings Plc, Ballys Corp., Bet365 Group Ltd., Betfred Group, BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Cherry Spelgladje AB, Churchill Downs Inc., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group AS, INTRALOT SA, Kindred Group Plc, MGM Resorts International, Rank Group Plc, Scientific Games LLC, Sportech Plc, Sportpesa, Super Group SGHC Ltd., The Stars Group Inc., Winamax, and Galaxy Entertainment Group Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Device (Desktop and Mobile), Product (Lottery, Betting, and Casino), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

Region Covered

North America, APAC, Europe, South America, and Middle East and Africa

Key companies profiled

1XBet, 888 Holdings Plc, Ballys Corp., Bet365 Group Ltd., Betfred Group, BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Cherry Spelgladje AB, Churchill Downs Inc., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group AS, INTRALOT SA, Kindred Group Plc, MGM Resorts International, Rank Group Plc, Scientific Games LLC, Sportech Plc, Sportpesa, Super Group SGHC Ltd., The Stars Group Inc., Winamax, and Galaxy Entertainment Group Ltd.

Key Market Trends Fueling Growth

The online gambling market is experiencing significant growth, with more people turning to convenient platforms for casino gambling, sports betting, and poker. Land-based casinos face increasing competition from digital alternatives, with slots being a popular choice for online gamblers. Companies like Kindred, Betway, and Entain PLC lead the way in product innovations, utilizing artificial intelligence (AI) and virtual reality (VR) for enhanced user experiences. Great Britain’s Gambling Commission regulates the industry, focusing on responsible gambling and addressing concerns related to mental health, such as pathological gambling, chronic stress, and hypertension. Payment options, including Neteller and blockchain, ensure seamless transactions. Major sports events, like the FIFA World Cup and European Championships, attract millions of viewers, driving sponsorships and partnerships with organizations like the Argentine Football Association and OpenSports. Mobile gambling, through smartphones, is a major trend, with Gaming Realms’ Slingo games, like Rainbow Riches and Lobstermania, being popular choices. The market continues to evolve, with telecommunications regulatory authorities monitoring trends and addressing concerns, such as gambling bans and streaming content. Companies like Betsson AB and Groupe Partouche are also investing in digital gambling, targeting internet users in Iowa and other regions. Overall, the online gambling market is a dynamic and innovative industry, driven by consumer demand and technological advancements. 

The online gambling market has experienced significant growth due to innovative features like live betting, Virtual Reality (VR), and Augmented Reality (AR). Live betting, or in-play betting, lets users place wagers on sports events and games in real-time, providing a dynamic and interactive betting experience. VR and AR technologies offer gaming environments, enhancing user engagement. These advancements are transforming the industry, catering to modern online gamblers’ evolving preferences. Live betting has gained popularity, allowing responsive wagering based on the game’s progression. Overall, these features are revolutionizing the online gambling industry, making it more technologically advanced and engaging. 

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Market Challenges

The online gambling market is experiencing significant growth, with land-based casinos facing increasing competition from digital platforms. Casino gambling, slots, poker, and sports betting are popular online activities in Great Britain and beyond. Companies like Kindred, Betway, and Entain PLC lead the way, utilizing artificial intelligence (AI) for personalized user experiences and convenient payment options through platforms like OpenSports, Neteller, and SA20. However, challenges persist, including mental health concerns related to pathological gambling, chronic stress, and hypertension. Regulatory bodies like the Telecommunications Regulatory Authority are implementing sponsorships and payment options restrictions. Product innovations, such as virtual reality (VR) and augmented reality (AR), are transforming the industry, with Bet365, Betsson AB, and Gaming Realms at the forefront. Major sporting events, like the FIFA World Cup and European Championships, drive significant traffic to online casinos and sports betting sites. Films and television programs also contribute to the market’s growth. Mobile gambling, enabled by smartphones, is increasingly popular, with Iowa’s Casino Queen Marquette and other land-based casinos exploring digital opportunities. Internet technology and digital gambling continue to expand, reaching more internet users every day.The global online gambling market faces challenges in terms of security and credibility. Many gambling websites lack dispute resolution system and transparency in cash prize payouts, which undermines the trust of consumers. Additionally, the absence of fair and responsible gaming standards reduces the market’s credibility and discourages potential users from engaging. Furthermore, online gambling platforms are vulnerable to cyber attacks and scams, adding to the concerns of both operators and consumers. These issues hinder the market’s growth and expansion.

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Segment Overview 

This online gambling market report extensively covers market segmentation by

Device 1.1 Desktop1.2 MobileProduct 2.1 Lottery2.2 Betting2.3 CasinoGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Desktop-  The desktop segment holds a substantial share in the global online gambling market, providing a convenient platform for users to enjoy various forms of betting and gaming. Desktop devices, including personal computers and laptops, offer advanced capabilities and expansive interfaces for accessing virtual casinos, sports betting platforms, poker rooms, and other online gambling services. Notable online casinos like 888 Casino and Betway provide feature-rich desktop platforms with a diverse range of games, such as slots, roulette, and blackjack, along with live dealer options. Desktop devices’ enhanced processing capabilities are crucial for high-stakes activities like live sports betting, where real-time data and video feeds are essential for informed decisions. The desktop segment caters to users seeking a comprehensive gambling experience, offering expansive lobbies, advanced graphics, and interactive interfaces. Desktop-specific promotions and loyalty programs incentivize continued engagement from users, providing exclusive bonuses, specialized tournaments, and targeted rewards based on desktop-specific gameplay metrics. These advantages position the desktop segment for growth in the global online gambling market.

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Research Analysis

The online gambling market has experienced significant growth in recent years, with many consumers turning to the convenience and accessibility of playing casino games, slots, and poker from the comfort of their own homes. In countries like Great Britain, the popularity of online gambling continues to rise. The market includes various platforms offering various games, such as OpenSports for sports betting and Betway for casino and poker. Virtual Reality (VR) technology is also making waves in the industry, with companies like Bet365 and Entain PLC experimenting with gaming experiences. Payment options like Neteller have simplified transactions, while sponsorships with organizations like the Argentine Football Association and FIFA World Cup add credibility. Films have also played a role in popularizing online gambling, showcasing the excitement and potential winnings. Regardless, responsible gambling practices are essential to ensure a safe and enjoyable experience for all players.

Market Research Overview

Online gambling has seen significant growth in recent years, with land-based casinos facing increasing competition from the digital world. Casino gambling, including slots, poker, and sports betting, has become more accessible than ever before, thanks to advancements in technology. Great Britain is a major market for online gambling, with companies like Kindred, GAME, and Betway leading the charge. Artificial Intelligence (AI) and user experience are key focus areas, ensuring convenient payment options and personalized experiences for players. Virtual and augmented reality are also transforming the industry, with Bet365 and Flutter Entertainment PLC at the forefront. However, concerns around mental health, pathological gambling, and chronic stress remain, with sponsorships and gambling bans a contentious issue. Blockchain and online payment solutions like Neteller are revolutionizing transactions, while product innovations from Betsson AB, Gaming Realms, and others continue to push the boundaries. The FIFA World Cup, European Championships, and major sports leagues like the Argentine Football Association and SA20 are popular betting events, while films and television programs add to the entertainment value. Mobile gambling, fueled by smartphones, is a growing trend, with Iowa’s Casino Queen Marquette and other land-based casinos exploring digital opportunities. Internet technology and digital gambling continue to attract internet users in their millions, making it an exciting and dynamic industry to watch.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeviceDesktopMobileProductLotteryBettingCasinoGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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ObjectSecurity Releases BinLens 3.0 for Advanced Binary Vulnerability Analysis

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ObjectSecurity, a recognized leader in advanced defense and industrial cybersecurity solutions, today announced the release of BinLens™ 3.0, the latest iteration of its cutting-edge binary vulnerability analysis tool.

SAN DIEGO, Nov. 19, 2024 /PRNewswire-PRWeb/ — ObjectSecurity, a recognized leader in advanced defense and industrial cybersecurity solutions, today announced the release of BinLens™ 3.0, the latest iteration of its cutting-edge binary vulnerability analysis tool.

BinLens™ takes a groundbreaking approach, leveraging advanced symbolic binary-level analysis to detect hidden and unpublished vulnerabilities, including memory-safety violations. Its superior detection accuracy dramatically lowers false-positive rate sets it apart from traditional tools.

BinLens™ addresses critical gaps in traditional cybersecurity approaches by automating the complex process of analyzing binary programs. This powerful new version provides organizations with deeper insights into vulnerabilities, enabling faster and more effective mitigation of potential threats.

BinLens™ is a bold evolution from ObjectSecurity OT.AI Platform™ 2.x, delivering a revolutionary approach to binary vulnerability analysis. Engineered to effortlessly uncover zero-day vulnerabilities with cutting-edge accuracy and minimal false positives, BinLens™ is designed for both IT and OT/ICS environments.

Leveraging advanced automation, BinLens™ streamlines traditionally labor-intensive tasks such as symbolic analysis, static analysis, disassembly, and decompilation. Unlike conventional tools that focus solely on known vulnerabilities, BinLens™ offers a proactive defense, providing organizations with unmatched flexibility through its versatile deployment options.

Conventional cybersecurity methods—such as network scans, SBOMs, and source code reviews—often fall short, detecting only known vulnerabilities and leaving critical gaps. BinLens™ takes a groundbreaking approach, leveraging advanced symbolic binary-level analysis to detect hidden and unpublished vulnerabilities, including memory-safety violations and other undefined behaviors. Its superior detection accuracy and dramatically lower false-positive rate set it apart from traditional tools.

Key Features of BinLens™ Include:

Memory Safety Detection: Identifies unsafe writes like weak pointers, stack overflows, and heap overflows to prevent data corruption, crashes, or unauthorized access.Control Flow Risk Mitigation: Detects vulnerabilities that allow user-controlled instruction pointers, safeguarding against arbitrary code execution.Array and String Violation Identification: Highlights issues such as out-of-bound array indices and externally controlled string vulnerabilities, protecting sensitive program data.Cryptographic Analysis: Evaluates encryption schemes, embedded keys, and entropy to uncover potential weaknesses in cryptographic defenses.Comprehensive Vulnerability Detection: Goes beyond published vulnerabilities, scanning for over 18,000 CVEs specific to OT/ICS binaries and nearly 140 CWEs across 30 CPU architectures.Integrated Automation: Combines tasks like disassembly, decompilation, and delta analysis into a unified “single pane of glass,” automating workflows traditionally requiring expert manual effort.Compliance Support: Maps to standards like NIST 800 and ISA/IEC 62443, helping organizations meet security and regulatory requirements.Flexible Deployment Options: Supports both on-premises (including Kubernetes clusters) and cloud environments, catering to the needs of DoD, government, and critical infrastructure sectors.

Serving a Broad Range of Users:

Red Teams, Reverse Engineers, Threat Hunters, and Vulnerability Researchers: Accelerate workflows and gain deeper insights.DevSecOps Engineers, QA Testers, and Developers: Detect vulnerabilities missed by source code analysis and integrate findings into DevSecOps pipelines.Operators, Procurement Teams: Mitigate supply chain risks by analyzing software during procurement, deployment, and patching, including legacy devices.

Availability

BinLens™ 3.0 is officially available starting today, November 15, 2024. Organizations can obtain the latest version directly from ObjectSecurity or through our network of authorized partners. For more information on licensing options or to schedule a demo, please visit ObjectSecurity BinLens at https://objectsecurity.com/binlens.

About ObjectSecurity

ObjectSecurity LLC is a trusted leader in solving complex, evolving cybersecurity and supply chain risk challenges that threaten national security and critical operations. Specializing in advanced cybersecurity solutions for both IT and OT/ICS systems, ObjectSecurity focuses on automating and streamlining security processes. With innovative tools like BinLens™, the company empowers organizations to proactively identify and mitigate vulnerabilities at their core—within software code and data.

ObjectSecurity’s holistic, proactive approach is designed to prevent cyberattacks and minimize production downtime across critical industries, including military defense, municipal smart cities, public and private transportation, energy, wastewater treatment, power utilities, manufacturing, and life sciences.

With over two decades of experience, ObjectSecurity has been a trusted provider of cybersecurity and supply chain risk management solutions to U.S. defense and federal agencies. Today, these cutting-edge technologies are commercially available to government and private sector organizations.

Headquartered in San Diego, CA, ObjectSecurity is a privately held company with a global presence.

For more information, visit

BinLens™ https://objectsecurity.com/binlens

ObjectSecurity https://objectsecurity.com

Media Contact

Dan Mathews, ObjectSecurity LLC, 1 6505153391, press@objectsecurity.com, https://objectsecurity.com

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SOURCE ObjectSecurity LLC

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Hydra X Becomes the first Licensed Custodian in APAC to Provide Custody for Canton Coin

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SINGAPORE, Nov. 20, 2024 /PRNewswire/ — Hydra X today announced that it is the first licensed custodian in APAC to provide custody for Canton Coin, marking a significant milestone for both Hydra X and the Canton Network ecosystem. In this groundbreaking collaboration, SBIVC will become the first Canton Network ecosystem member to leverage Hydra X’s industry-leading custody services for Canton Coin.

Supporting Canton Coin will enable Hydra X’s clients across APAC, such as SBIVC, to bring regulatory-grade digital assets to market, utilizing the full potential of tokenization and Canton Network’s privacy-first architecture. Hydra X will partner with Digital Asset to integrate its tokenization utility, allowing institutional clients to securely issue and manage digital assets while maintaining full control over privacy and data sovereignty—a hallmark feature of the Canton Network.

“SBIVC is excited to be the first Canton Network ecosystem member to leverage Hydra X’s industry-leading custody services for Canton Coin. Hydra X’s strong track record in regulatory compliance and security makes it an ideal partner for this initiative. This partnership is a crucial step in delivering the secure, privacy-preserving infrastructure that is required to foster confidence in digital assets for institutional players across APAC,” said Eiichiro So, CEO of SBIVC.

“Becoming the first licensed custodian in APAC to support Canton Coin is a significant achievement for Hydra X,” said Ng Wee Hao, COO of Hydra X. “This partnership with Digital Asset and SBIVC enables us to leverage the full power of the Canton Network’s privacy and security features, reinforcing our commitment to providing secure, regulatory-compliant solutions.  Our clients can now confidently navigate the digital assets space, supported by a scalable solution that meets the highest regulatory standards.”

About Hydra X:

Hydra X is a regulated capital markets infrastructure company, developing technology and financial services to power the next generation of tokenized financial markets. Its comprehensive solutions span the entire capital markets lifecycle, from securitization, primary issuance and secondary trading, to custody and settlement.

As a regulated digital asset custodian licensed by the Monetary Authority of Singapore, Hydra X provides institutional-grade custodial services for a broad range of digital assets, including security tokens and digital payment tokens, and is one of the largest security token custodians in APAC.

For more information, visit our website or Linkedin.

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Cargobase Secures SOC 2 Compliance For Leading Spot Freight Automation & Transportation Management System (TMS)

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SINGAPORE, Nov. 20, 2024 /PRNewswire/ — Cargobase, a logistics technology platform for enterprise shippers, today announced that it has achieved SOC 2 Type II compliance, specifically meeting the Security, Availability and Confidentiality (SAC) Trust Services Criteria. This independent verification underscores Cargobase’s commitment to data security, system reliability and the protection of sensitive information, reinforcing the company’s dedication to setting industry benchmarks in secure logistics solutions. This attestation complements Cargobase’s ISO 27001 certification, further strengthening the foundation of trust our customers rely on.

“We’re proud to announce that Cargobase has achieved SOC 2 Type II compliance, demonstrating our commitment to data security and meeting the evolving needs of our clients. Recognizing the growing importance of this requirement within the industry, we’ve invested in robust security measures to provide our customers with the confidence and assurance they require,” said Wiebe Helder, CEO at Cargobase.

“In the dynamic world of logistics and supply chain management, large volumes of sensitive data are exchanged daily,” said Arnout Wagenaar, Chief Strategy Officer at Cargobase. “Data security is paramount for our customers, who entrust us with information critical to their operations. Achieving SOC 2 Type II compliance underscores our unwavering commitment to data integrity and protection, thus building trust with our partners and allowing us to better serve the needs of enterprise shippers worldwide.”

Understanding SOC 2 Compliance

The SOC 2 framework is a globally recognized standard developed by the American Institute of CPAs (AICPA). It focuses on Trust Services Criteria, including Security, Availability and Confidentiality to ensure that systems are protected from unauthorized access, reliably available to customers and employees, and that sensitive information remains confidential.

What is SOC 2 Type II Compliance?

Obtaining a SOC 2 report involves a CPA audit to attest to an organization’s security controls. It aims to determine whether the controls put in place are designed correctly.

Type I reports evaluate an organization’s controls at a single point in time, whereas a Type II report examines how well those controls perform over a period of time (typically 3-12 months).

What it means for our customers

This achievement reaffirms Cargobase’s position as a trusted partner for enterprise shippers worldwide. By prioritizing data security, we empower our clients to navigate the complexities of global logistics with peace of mind.

ABOUT CARGOBASE

Founded in Singapore in 2013, Cargobase is a global logistics software company whose mission is to simplify logistics for all. Its solution: “Logistics Software That Works”.

The Cargobase platform is designed for shippers to manage their local, regional or global supply chains across all freight modes, giving logistics professionals the visibility and control to make better decisions from day one.

Cargobase TMS is used in 50 countries by leading enterprise shippers across Automotive, Semiconductor, Oil & Gas and Industrial Machinery sectors. Cargobase has offices in Singapore, Malaysia, Netherlands, Mexico, and the United States.

For more information, visit www.cargobase.com.

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SOURCE Cargobase Pte Ltd

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